25It should be noted at the outset that, according to settled case-law, the terms used to specify exemptions such as that set out in Article 135 of the VAT Directive are to be interpreted strictly, since they constitute exceptions to the general principle that VAT is to be levied on all goods and services supplied for consideration by a taxable person. Nevertheless, the interpretation of those terms must be consistent with the objectives pursued by those exemptions and comply with the requirements of the principle of fiscal neutrality inherent in the common system of VAT. Thus, the requirement of strict interpretation does not mean that the terms used to define the exemptions referred to in Article 135 should be construed in such a way as to deprive the exemptions of their intended effect (see, to that effect, Case C-326/11 J.J. Komen en Zonen Beheer Heerhugowaard [2012] ECR, paragraph 20 and the case-law cited).
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